|Construction at the Ritz-Carlton Residences reaches the top floors.|
Coincidentally, Mary Ellen Podmolik wrote a sales update on the Ritz-Carlton Residences and Lincoln Park 2520 in the Tribune this past weekend. What was not mentioned; both developments are marketed by Prudential Rubloff Properties our affiliated real estate brokerage.
The two very upscale and luxurious developments are the only games in town for major mid-rise or high-rise construction in Chicago. Amazingly, Mary Ellen Podmolik reports the Ritz-Carlton homes will be the only new construction condo units to deliver downtown in 2011.
Bob and I know that new construction on the high-end of the market spectrum, if executed property, will sell and will sell for a premium in neighborhoods like Lincoln Park, Lakeview, Near North and the Loop. This is the case even when there is plenty of inexpensive re-sale alternatives. The market likes new and re-sales have to price at a huge discount to move.
Priced from $1.4 million to "how much you got?", these homes are for lifestyle seekers and lifestyle makers who will be placed squarely in the high-end retail capital of the Midwest. The architecture, parks, cultural events, dining and lakefront have truly reached world class status.
|The construction scaffolding at 664 North Michigan Avenue|
|Street view of the construction.|
Please visit www.TheResidencesChicago.com to experience the amenities and lifestyle offered to owners of the Ritz-Carlton Residences on North Michigan Avenue.